We’ve all witnessed good ol’ fashioned TV viewing continue to change over recent years with the increased availability of different viewing options and better technology. In fact, Wall Street analyst Craig Moffett just announced that 2013 has proven to be the worst year yet for the TV business as consumers continue to drop their pay-TV subscriptions in favor for more on-demand, on-the-go content viewing.
Does this mean that TV is dead or dying? No, but it’s certainly changing quickly and is demanding that advertisers, producers and broadcasters become more innovative to empower a more social and connected TV experience as people (such as myself) position their smartphone, tablet and laptop within arms reach before tuning in.
Nielsen and Social Guide state that TV viewing is more social and communal than ever before with 32 million people tweeting about TV in the U.S. in 2012 and report that for premier episodes, an 8.5% increase in Twitter activity correlates with a 1% increase in program ratings for adults 18 – 34 years old.
As viewing content on-demand becomes more prevalent, catching a ‘special TV event’ becomes even more valuable. Live events are catching TV executives’ attention as award shows, singing competitions, The Olympics, and of course, sports, are more likely to be watched live and create buzz online.
While several stats and media analysts prove that some people seem to be ‘cutting the cord’, one bit of TV content remains strong in viewership – the NFL. Business Insider reported that already, CBS, Fox, ESPN and NBC will pay a combined 4.95 billion to carry NFL games in 2014, up from the 3.1 billion they paid in contract ending this season. The #1 most-watched primetime TV program was NBC’s Sunday Night Football, followed by the Sunday Night Football pre-game show and Fox’s NFL postgame show, “The OT.”
Which is why I think Facebook’s latest move was a smart one. Twitter and Facebook have been up in arms to see who can best tap into this rising social TV behavior and Facebook just announced that they’ve agreed to acquire SportsStream – a company that ‘enables content producers and broadcasters to aggregate, filter and display sports data in real-time.’
TV viewing will continue to evolve and become more tech-enabled and I will enjoy watching what happens next! What do you think will happen with the TV industry?